Higher Education is universally acclaimed as the bed rock for national development. It is also now regarded as a major factor in the accentuation of the building of the knowledge economies that has today universalized the function of institutions of higher education as factories that produce globalized high level man power for the growing economies of the world (Ogunruku, 2014). According to Clay (2016), at independence in the 1960s, Ghana, Brazil and South Korea were in a similar economic condition, even Ghana was found to be actually slightly ahead of the others. However, South Korea has presently moved into the group of advanced economic powers by fitting education with industrial development, and by aggressively leveraging global sourcing of knowledge and resources to build first-class institutions. Similarly, Mani and Trines (2018) described Korea as an impoverished agricultural society and one of the poorest countries in the world in the 1950s but which is now regarded as the 12th largest economy in the world and the fourth largest in Asia. Modern Korea is also regarded as an advanced high-tech nation with one of the highest Internet penetration rates in the world. One major reason propounded for the transformation and impressive rise in the economy of Korea according to Mani and Trines (2018), was Korea’s high educational attainment levels within the last few decades. Therefore, sharing of lessons between Korea and Africa will lead to lessons for increased rate and direction of reform in African higher education with interventions at both the institutional and individual levels including institutionalizing entrepreneurship education and enterprise development. The study was expected to identify key factors, such as the role of policy, leadership and the private sector in the higher education sector and contribution to success.
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